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THE ECONOMY.(TO THE POINT)
Mortgage rates dipping lower
The average interest rate on a 30-year mortgage dropped to 5.53% this week from 5.57% last week, lending giant Freddie Mac said. The average rate on a 15-year mortgage fell to 5.12% from 5.16%. A year ago the average rate was 6.21% on a 30-year mortgage and 5.62% on a 15-year mortgage.
** M2 money supply rose $34.6 bil to $6.5017 tril in the week ended June 20. M3 rose $7.8 bil to $9.7091 tril while M1 grew $29.5 bil to $1.3701 tril.
Help wanted advertising slowing
The Conference Board's index of help wanted ads dropped to 37 from 39 in April as ad levels dropped in all nine U.S. geographic regions. The Conference Board said businesses have turned cautious about hiring due to the prospect of slower economic growth. It also said the biggest obstacle to hiring is the increase in labor costs relative to the rate of price increases.
** The NAPM-New York index of regional factory conditions fell to 333.7 in June from 337.3 in May. Its current conditions gauge rose to 42.8 from 42.3 in May, but stayed ...
- Thirty-Year Mortgage Rates Hit Lowest Point in Three Years.
- Newspaper article from: Knight Ridder/Tribune Business News November 2, 2001 700+ words
...the door for the lowest 30-year mortgage rates in three years. The typical...rates up in the future." The Conference Board said this week consumer confidence...effect \[of the dip in the 30-year mortgage\] will be in inducing more...
- 30-Year Mortgage Rates Drop Back Below 6 Percent.
- Newspaper article from: Knight Ridder/Tribune Business News October 3, 2003 700+ words
...out of the stock market and into Treasuries, pushing down their rates, with mortgage rates following. This week, the Conference Board's consumer confidence index fell unexpectedly, again amid worries about jobs and doubts about the recovery. "Plummeting...
- 30-Year Mortgage Rates Dip
- Newspaper article from: The Washington Post October 5, 1996 700+ words
...that U.S. August single-family home sales rose 4.7 percent to an annualized rate of 832,000 units. Also, the Conference Board said Tuesday that U.S. leading indicators rose 0.2 percent in August. Freddie Mac said lenders charged an average...
- Should CUs Jump On 50-Year Mortgage Bandwagon?
- News wire article from: Banking Wire Freeman, Lisa June 22, 2006 700+ words
...in the California market, the 50-year mortgage is ostensibly designed to get more...house free and clear. With the 50-year mortgage, unless the home has tremendous appreciation...be homeowners interested in the 50-year mortgage might not live long enough to pay off...
- Should CUs Jump On 50-Year Mortgage Bandwagon?(credit unions)
- Magazine article from: Credit Union Journal Freeman, Lisa June 5, 2006 700+ words
...in the California market, the 50-year mortgage is ostensibly designed to get more...house free and clear. With the 50-year mortgage, unless the home has tremendous appreciation...be homeowners interested in the 50-year mortgage might not live long enough to pay off...
- 30-year mortgage may be better choice
- Newspaper article from: Chicago Sun-Times Paul S. Marshall March 31, 1989 700+ words
...widens, the popularity of the 15-year mortgage increases. Second, lenders have driven...about the same payment as for the 30-year mortgage. To many, the lure of this apparent...surface, the arguments for taking a 15-year mortgage seem compelling. The lower rate...
- 15-year mortgage's looks are deceiving
- Newspaper article from: Chicago Sun-Times July 15, 1988 700+ words
Hallelujahs to the 15-year mortgage are being sung everywhere these...the time it takes with a 30-year mortgage. You don't pay twice as much...interest rate, payments on a 15-year mortgage are just 22 percent higher than...
- 15-Year Mortgage Can Be Costly, Expert Says
- Newspaper article from: The Washington Post February 25, 1989 700+ words
...taken a skeptical look at the 15-year mortgage, warning that significantly shorter...purely financial perspective, the 30-year mortgage is superior for many people," said...two-faceted myth" of the 15-year mortgage-that homeowners can get a lower mortgage...